ALBUQUERQUE BERNALILLO COUNTY
WATER UTILITY AUTHORITY
BILL NO. R-21-31 |
RESOLUTION
t
Authorizing the Execution and Delivery of Water Project Fund Loan/Grant Agreement by and between the New Mexico Water Trust Board and the New Mexico Finance Authority ("Finance Authority") and the Albuquerque Bernalillo County Water Utility Authority (the "Water Authority"), in the Total Amount of $2,000,000 ($1,200,000 Grant Amount/$800,000 Loan Amount), Evidencing A Special Limited Obligation of the Water Authority To Utilize the Loan/Grant Amount Solely for the Purpose of Financing the Cost of the Water Authority's Advanced Metering Infrastructure Project, and Solely in the Manner Described in the Loan/Grant Agreement; Providing for the Pledge and Payment of the Loan Amount and an Administrative Fee Solely From Net Revenues; Certifying that the Loan/Grant Amount, Together with Other Funds Available to the Water Authority, is Sufficient to Complete the Project; Approving the Form of and Other Details Concerning the Loan/Grant Agreement; Ratifying Actions Heretofore Taken; Repealing All Action Inconsistent With this Resolution; and Authorizing the Taking of Other Actions in Connection with the Execution and Delivery of the Loan/Grant Agreement
b
Capitalized terms used in the following preambles have the same meaning as defined in this Resolution unless the context requires otherwise.
WHEREAS, the Water Authority is a legally and regularly created, established, duly organized and existing public body politic and corporate, separate and apart from the City and the County, under the general laws of the State, is a qualifying entity under the Act and is qualified for financial assistance as determined by the Finance Authority and approved by the Water Trust Board pursuant to the Board Rules and the applicable policies and the Act; and
WHEREAS, pursuant to the Board Rules the Water Trust Board has recommended the Project for funding as a quali...
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